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Chinese coal demand in 2010 to go up by 6 pct - CNCA

Steel News - Published on Sat, 02 Jan 2010

Bloomberg quoted China National Coal Association as saying that China may consume between 4% and 6% more coal by 2010 on continued economic growth.

As per repot, demand from the world’s biggest producer and consumer of coal may expand to about 3.4 billion tonnes from 2009. China uses coal to operate about 80% of its power plants and to make steel.

According to official forecasts, government stimulus may boost economic growth by more than 8% of 2009, spurring factory output and power and fuel use.

Mr Zhang Guobao director of National Energy Administration said that China’s energy demand may rise 3.6% in 2010.

Mr Martin Wang a coal analyst at Guotai Junan Securities said that “Growth in coal demand should be fairly stable in 2010. Economic growth by 2010 should remain as strong as this year, so power demand will be strong as well.”

China National Coal Association said that the country’s coal production capacity may expand by almost 300 million tonnes in 2010.

The industry association said that supply and demand of coal in China should stay largely balanced by 2010. Short term supply tightness in certain regions will still be seen in the Q1.

(Sourced from Bloomberg)

Posted By : admin on Sat, 02 Jan 2010
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